Fox Business’s Stuart Varney openly praised the economic policies associated with President Biden, known as “Bidenomics,” in response to the impressive job figures for the month.
“It’s a resilient labor market,” Varney told Ainsley Earhardt. “And President Biden is gonna talk about this at some point today because these are good numbers for Bidenomics – 199,000 jobs added to the economy. It’s a bit more than expected. There’s resilience there.”
Here’s a summary:
Job Data in November: In November, the United States added 199,000 jobs, leading to a decrease in the unemployment rate to 3.7%. This marks the 23rd consecutive month of unemployment below 4% and the 35th consecutive month of job growth.
Positive Assessment: Varney expressed his approval of these job numbers and their implications. He described it as a resilient labor market and suggested that President Biden would likely highlight these figures as a testament to his economic policies.
Historical Low Unemployment Rate: Varney noted that the unemployment rate of 3.7% is historically low, which is likely to be emphasized by President Biden as a positive outcome of his economic approach.
Retail Jobs: Ainsley Earhardt asked if the boost in jobs was due to increased holiday hiring in the retail sector, but Varney corrected her by pointing out that the retail job figures were actually lower than expected, indicating that the positive job growth wasn’t solely reliant on holiday hiring.
Economic Implications: Varney mentioned that the strength in the labor market and the economy might result in the Federal Reserve refraining from interest rate cuts in the early part of the following year.
Comparison to Reaganomics: The passage concludes by suggesting that the positive job data under President Biden’s economic policies is being acknowledged even on Fox News, and it contrasts this with the reference to “Reaganomics” in which the benefits of economic policies are questioned.
Overall, the positive job data for November suggests that the strength in the labor market is being attributed to President Biden’s economic policies, known as “Bidenomics.”
